XML 15 R4.htm IDEA: XBRL DOCUMENT v3.21.1
Consolidated Statements Of Operations - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Premiums earned:    
Net gains (losses) on financial instruments at fair value and foreign exchange $ 51 $ (63)
Total revenues 72 (6)
Expenses:    
Losses and loss adjustment 98 243
Interest 41 47
Total expenses 178 327
Income (loss) before income taxes (106) (333)
Provision (benefit) for income taxes 0 0
Net income (loss) $ (106) $ (333)
Net income (loss) per common share:    
Basic $ (2.16) $ (4.62)
Diluted $ (2.16) $ (4.62)
Weighted average number of common shares outstanding:    
Basic [1] 49,258,110 72,089,016
Diluted [1] 49,258,110 72,089,016
Non Variable Interest Entity [Member]    
Premiums earned:    
Scheduled premiums earned $ 15 $ 16
Refunding premiums earned 5 4
Premiums earned (net of ceded premiums of $1 and $1) 20 20
Net investment income 15 23
Net gains (losses) on financial instruments at fair value and foreign exchange 51 (63)
Expenses:    
Losses and loss adjustment 98 243
Amortization of deferred acquisition costs 2 2
Operating 26 18
Interest 41 47
Variable Interest Entity Primary Beneficiary [Member]    
Premiums earned:    
Net investment income 0 8
Net gains (losses) on financial instruments at fair value and foreign exchange (14) 15
Other net realized gains (losses) 0 (9)
Expenses:    
Operating 2 2
Interest $ 9 $ 15
[1] Includes 0.9 million of participating securities that met the service condition and were eligible to receive nonforfeitable dividends or dividend equivalents for each of the three months ended March 31, 2021 and 2020, respectively.